FAQ - Frequently Asked Questions

All your Questions answered in one place

Some of the questions we hear:

Over the years we have received a numerous amount of questions over and over again. Some of them are regarding Bitcoin, Blockchain or Cryptocurrencies. While others, are about our business and the services we offer. We also get general questions and others from all over the board. Below, we have compiled a list of the most frequently asked questions (FAQs) along with additional information we thought would be useful in explaining U.CASH.

WHAT IS U.CASH? (11)

What is U.CASH?

U.CASH is a peer-to-peer network of retail service providers (converters) combined with online and mobile applications (apps) targeted towards providing financial empowerment. It lets anyone in the world access many bank-like services without having to interact with a bank.

UCASH is also the name of the network’s native currency, UCASH. UCASH is used to facilitate efficient peer-to-peer transactions in a distributed manner. It is also used as network fuel, to pay for financial services of all types. It is built on the ERC20 standard for access to robust smart-contracts and cheap transaction capabilities.

By buying UCASH, you are pre-paying for U.CASH financial services. U.CASH is available globally, in over 50 currencies, including Bitcoin and other cryptocurrency.

When will UCASH be listed on an exchange?
It will be listed by the time the IBO period is complete.
What does U.CASH stand for?
The U stands for Universal. U.CASH means Universal Cash.
Where is U.CASH available?
We are global. Welcome to this new phase in our mission to make peer to peer financial services truly global. As of now, we are supporting 54 currencies, in addition to Bitcoin and other cryptocurrency. Bitcoin and ethereum wallet support for deposits and withdraws is now live globally. Bank account support is live for converters that accept bank deposits. And you may look for U.CASH converters in your city through our app. We are constantly working on developing bank account integration in new countries, and in broadening the reach of our converter network. If you would like to request a converter in your region, or add your bank to our list, please do let us know at converters@u.cash
What can I use U.CASH for?
You can use U.CASH for sending and receiving money, requesting payments and withdrawing funds, paying bills, taking out loans, buying/selling cryptocurrency, buying/selling goods, investing, foreign exchange, and more, anywhere in the world just from your smartphone. With U.CASH, you can deposit funds into your U.CASH wallet through a converter, your bank account, or through any 3rd-party cryptocurrency wallet.
How is U.CASH different from PayPal and Venmo?
U.CASH is the world’s first digital fiat agnostic, cryptocurrency agnostic, and blockchain agnostic, peer to peer money transfer network. U.CASH converters represent a global, shared network of consumers helping each other easily deposit/withdraw cash, and access financial services from the U.CASH app anywhere in the world.
Why use U.CASH instead of regular cash?
U.CASH combines the power of cash with global, instant transactions. It lets you manage your money.
Why use UCASH instead of other cryptocurrencies such as Bitcoin and Ethereum?
    There are multiple reasons.
  1. The U.CASH platform lets you store value locked to non volatile fiat currencies.
  2. UCASH Distributes value of the network to all U.CASH contributors, including core team, community members, bounty hunters and others, letting them share in the success of the network.
  3. UCASH exists on multiple blockchains, and lets users access cross blockchain functionality with one currency.
Is U.CASH secure?
U.CASH uses modern encryption technology to secure your digital assets. Also, when you transfer using U.CASH, your recipient does not receive any sensitive financial information such as your bank account number.
What is U.CASH’s technology?
U.CASH is powered using a combination of digital currencies, multi-signature escrow, and smart-contracts with distributed data storage, that all allow access to a globally compatible worldwide network.
What personal information does U.CASH keep on file?
We require your name, email, and phone number in order to open an account and access services. Certain services require additional information to comply with laws in various jurisdictions.
Where is U.CASH registered?
U.CASH operates locally in Canada, and is a corporation organized and existing under the laws of Ontario, Canada. For any additional questions, please email us at info@u.cash

GETTING STARTED (14)

How do I recover my wallet?
In order to recover your wallet, you need your recovery/backup phrase or your email address and password ready. If you lose your phone, delete the U.CASH app accidentally or can't access your wallet for any reason, you can restore the funds of your lost/ wallet into your new wallet.
What are the requirements to use U.CASH?
U.CASH requires the following to work:
  1. A computing device (computer, tablet, smartphone)
  2. Internet access through wifi or mobile data
How do i sign up for U.CASH?
Users and converters can access U.CASH via a web browser or our mobile apps (coming soon). Create an account with an email address and password. From there you will be prompted for additional information (such as phone verification and identification) should you decide to increase your account levels to unlock higher transaction limits and capabilities.
How do I buy digital currency with U.CASH?
Buying digital {“currency” should be added} with U.CASH is very simple, and after you have created an account, it involves two steps:
  1. Fund your U.CASH wallet. You can fund your wallet via cash, bank deposit, Western Union, cryptocurrency, or any other payment option accepted via your local converter.
  2. Once the funds reach your U.CASH wallet, convert your U.CASH digital fiat balance to any cryptocurrency available and voilà, You now own digital currency.
What are U.CASH’s verification requirements?
We require name, phone number, and email address for all users on our network. You may be required to provide government identification and proof of address, depending on your location and the types of services you wish to access.
What are U.CASH’s transaction limits?
Transaction limits for users on the U.CASH network very based on identity verification level. More information is available under Account Overview.
How do I change my wallet currency?
To change the currency in your U.CASH wallet to Bitcoin, please follow these steps:
  • In your U.CASH account, to the main screen ß {should say “go to”}
  • Click/tap: the icon on the upper left corner to go to the menu screen
  • Click/tap: 'Wallet Currency'
  • Click/tap: your current U.CASH wallet currency option
  • Click/tap: the desired currency option
  • Check the exchange rate used for conversion
  • Click/tap: Done
Note that you can change your wallet currency to any digital fiat or digital currency denomination.
What countries and currencies do you support?
As of now, we support the 54 currencies below, in addition to Bitcoin and Ether. We will be adding new fiat currencies and digital currencies over time.

Country

Currency Name

Currency Code

Argentina

Argentine Peso

ARS

Aruba (Kingdom of the Netherlands)

Aruban guilder

AWG

Australia

Australian dollar

AUD

Bahamas

Bahamian dollar

BSD

Barbados

Barbados dollar

BBD

Brazil

Brazilian real

BRL

Bulgaria

Bulgarian lev

BGN

Canada

Canadian dollar

CAD

Chile

Chilean peso

CLP

China

Chinese yuan renminbi

CNY

Colombia

Colombian peso

COP

Costa Rica

Costa Rican colon

CRC

Croatia

Croatian kuna

HRK

Curacao (Netherland Antilles)

Netherlands Antillean guilder

ANG

Czech Republic

Czech koruna

CZK

Denmark

Danish krone

DKK

Dominican Republic

Dominican peso

DOP

Eurozone (various countries)

Euro

EUR

Grenada/Saint Vincent and the Grenadines

East Caribbean dollar

XCD

Guatemala

Guatemala quetzal

GTQ

Haiti

Haitian gourde

HTG

Honduras

Honduran lempira

HNL

Hong Kong

Hong Kong dollar

HKD

Hungary

Hungarian forint

HUF

Iceland

Icelandic króna

ISK

India

Indian rupee

INR

Indonesia

Indonesian rupiah

IDR

Israel

Israeli new shekel

ILS

Jamaica

Jamaican dollar

JMD

Japan

Japanese yen

JPY

Malaysia

Malaysian ringgit

MYR

Mexico

Mexican peso

MXN

New Zealand

New Zeland dollar

NZD

Nicaragua

Nicarguan córdova

NIO

Norway

Norwegian krone

NOK

Paraguay

Paraguay guaraní

PYG

Peru

Peruvian nuevo sol

PEN

Philipppines

Philippine peso

PHP

Poland

Polish zloty

PLN

Romania

Romanian new Leu

RON

Saint Lucia

East Caribbean dollar

XCD

Singapore

Singapore dollar

SGD

South Africa

South African rand

ZAR

South Korea

South Korean won

KRW

Sweden

Swedish krona

SEK

Switzerland

Swiss franc

CHF

Taiwan

New Taiwan dollar

TWD

Thailand

Thai baht

THB

Trinidad and Tobago

Trinidad dollar

TTD

Turkey

Turkish lira

TRY

United Arab Emirates

UAE dirham

AED

United Kingdom

Pound sterling

GBP

United States

US dollar

USD

Vietnam

Vietnamese đồng

VND

Where can I see a list of my transactions?
To see a list of your past and current transactions, please follow these steps:
  • Open your U.CASH account, to the main screen
  • Click/tap: 'Transaction History'
  • Click/tap: on any transaction to see details
Can I have multiple accounts or wallets?
We do not officially support using the same U.CASH wallet on two different phones since each account is distinct via and email address/phone number combination.
I got a new phone. How do I transfer my wallet?

Access to U.CASH via a web browser needs an email address and password, therefore as long as your remember that you can login using any device.

For the U.CASH mobile apps, to switch your U.CASH wallet from one phone to another phone, you will want to apply the recovery phrase from the first device, and enter it into your second device. Instructions for recovering your old U.CASH wallet will be provided when you download the U.CASH app onto your new device.

How do I delete my U.CASH account?
Please contact Support by clicking on the three dots at the bottom right on portal.u.cash
Where is U.CASH getting its fiat currency prices from?
U.CASH gets its fiat-currencies prices from live mid-market rates pulled from Google Finance as well as sources such as XE and others.
How do I load and unload ?
Our Converter network is expanding. Please follow our social media channels for more information.
How do I load and unload to and from my U.CASH account using a bank?
This functionality will be enabled in the future, via our converter network.
How do I load and unload to and from my U.CASH account using a U.CASH converter?
This functionality will be enabled in the future, via our converter network. Converter services will initially be available in Canada. Please follow our social media channels for more updates.

DEPOSITING AND WITHDRAWING (9)

How do I deposit and withdraw?
Your U.CASH wallet is global and flexible. You can deposit to and withdraw from your account via the U.CASH converters network or your own digital currency (such as Bitcoin).
How do I buy and sell cryptocurrency with U.CASH?
Buying digital currency with U.CASH is very simple, and after you’ve created a U.CASH account, it involves two steps:
  1. Fund your U.CASH wallet. You can fund your wallet via the U.CASH converters network or your own digital currency (such as Bitcoin)
  2. Once the funds reach your U.CASH wallet, convert your digital fiat balance to any cryptocurrency available.
How do I deposit and withdraw to and from my U.CASH account using a bank?
You can deposit and withdraw to and from your U.CASH account via the U.CASH converter network, specifically those converter who have enabled deposits/withdrawals to and from their bank.
How do I deposit and withdraw to and from my U.CASH account using a U.CASH converter?
To deposit into your U.CASH wallet using an U.CASH converter, please do the following:
  • Open your U.CASH account, to the main screen
  • Click/tap:‘Add Funds’ (fiat-denominated wallets) OR ‘Buy Digital Assets’ (digital currency-denominated wallets)
  • Click/tap: 'Cash'
  • Fill screen info: Amount you want to transact, email, comments.
  • Set your desired location
  • Click/tap: 'Continue'
  • Verify your details/info
  • Click/tap:Submit
Please note the above process is our U.CASH converter concierge model and it may take 1-2 business days (most times it’s instant), depending on availability, to get back to you with a trusted converter near you.
How long does a transaction take?
Deposits and transactions on the portal are nearly instantaneous. You may experience a delay in processing withdrawals due to fraud prevention measures on some transactions.
What exchange rate will be used if I deposit via cash or bank?
You set your U.CASH wallet default currency when you create your account, which you can change at any point). If your wallet currency is set to USD (or a currency different from the currency your bank account is in), a deposit will remain in the denomination you received it as. You will be able to view all digital fiat and digital currency balances in your account, in addition to seeing your default currency balance.
How do I send UCASH?
  • Go to main menu
  • Click/tap: "Send"
  • Enter recipient’s UCASH email address
  • Enter the desired amount
  • Review & confirm
  • Click/tap: Send
Is any documentation required for bank deposits and withdrawals?
While most customers will not need to provide any documentation, in select cases we may be required to ask for additional documentation, which will vary from customer to customer. If additional documentation is required from you, we will let you know via app notification or via email.
How does value locking work in regards to my digital fiat balance?

We accomplish Value Locking through smart-contract based locking, foundation powered locking, and token based locking to offer clients security, redundancies, as well as options according to their verification level.

  1. Smart Contract Based Locking: Smart-contract based locking is a form of scripted automatic updates to multi-signature wallets that maintain a digital currency balance (such as Bitcoin) that is equal to the U.CASH fiat currency value (ie. USD, CAD, EUR, INR, etc.) the users of the platform are locked in at. Liquidity providers guarantee certain amount of funds in real-world financial contracts with U.CASH Inc. and its users, and U.CASH allows for these providers to participate in the long-term value increase of digital currencies, without having the risk of holding the actual digital funds themselves.
  2. Foundation Powered Locking: The UCASH Foundation will participate in the buying & selling of other digital assets as well as holding balances with its partner exchange network to provide a part of the value locking guarantees for certain users.
  3. Token Based Locking: U.CASH Inc. in partnership with external service providers has enabled the capability to hold non-blockchain based digital tokens representing fiat currencies, starting with CAD (Canadian Dollars). These digital tokens will be backed using Canadian Bonds, and/or Canadian Dollar balances in accounts with the beneficiary being the token holders.

SENDING AND RECEIVE DIGITALS FUNDS (13)

How do I send money?
  • Go to main menu
  • Click/tap: "Send Digital Assets"
  • Choose a contact or input a mobile number
  • Enter the desired amount
  • Review & confirm
  • Click/tap: Send Digital Assets
Note: The contact must have an U.CASH wallet in order to show up under contacts. If the user does not have an U.CASH account, the app will send a text message to their contact, prompting them to create an account.
How do I invite friends to join U.CASH?
U.CASH is free to use, and is available via any web browser and Google Play (coming soon). Tell your friends and family about it, and transact with each other.
How do I transact with someone who isn’t on U.CASH?
Before a user can transact with his or her recipient, the recipient will need to create a U.CASH account, and register his/her phone number.
How do I send digital currency?
  • Go to main menu
  • Click/tap: "Send"
  • Enter recipient’s UCASH email address
  • Enter the desired amount
  • Review & confirm
  • Click/tap: Send
How do I approve a payment request?
You must be connected to the internet to receive a payment request prompt from the U.CASH app. Without Internet, the prompt will not be triggered. When you receive the payment request prompt, you will have the option to approve the payment request if you have sufficient funds in your U.CASH wallet. Simply press Approve to complete the payment. If you do not have enough funds to approve the payment request, but do not wish to reject the request, you can also exit the app and await incoming funds (either through depositing via a bank, or by receiving funds from another individual). After enough funds arrive and are made available to your U.CASH wallet, you can re-open the app to retrieve the original payment request prompt, and you will be able to approve the transaction.
How long does a transaction take?
Deposits and transactions on the portal are nearly instantaneous. You may experience a delay in processing withdrawals due to fraud prevention measures on some transactions.
Can I rush my U.CASH transaction?
All U.CASH transactions are completed as fast as possible. There is no separate option to "rush" a transaction any faster.

CONVERTERS (13)

What is a U.CASH converter?
The U.CASH app allows qualified individuals to become a U.CASH converter. Converters perform ubiquitous mobile U.CASH transactions, help users fund their U.CASH accounts (cash, bank deposit, Western Union, and more) or withdraw from their U.CASH account (to cash, bank account, and more). Converters will conduct face-to-face transactions with users from an agreed meeting place, or at their store location based upon converter's own fees per transaction and operating hours. Multiple types of converters exist, including:
  1. Master Converters: Provide U.CASH liquidity to other converters in local areas or countries as well as offer financial services. Master converters will initially be large money service business partners and other highly capitalized entities, but we will expand to include other financial institutions over the coming months and years.
  2. MSB Converters (Money Service Businesses): Single store, or multi-store brands which offer traditional money service business activities as well as online companies whose user base could benefit from U.CASH.
  3. Retail Converters (Storefronts): Businesses who have store-front locations that want to offer U.CASH services. They can be any type of business including convenience stores, computer stores, cell phone shops and more.
  4. Individual Converters (Any Users): These are individual users that want to earn extra income by providing basic U.CASH services to people in their neighbourhoods or online.
  5. Mobile Converters: Will provide services by coming to your location. The mobile converter could also be an MSB, retail or even individual providing U.CASH access.
Where can I find U.CASH converter?
Open your converter map and see available converters in your area with their available services. After initiating a converter service request you will be asked for more details about the type of transaction you want to do, amount of money you want to transact, your preferred meeting location, your email, along with any notes. In the notes section, you may add any additional requests, from your own availability to changing your preferred meeting location. All this is done live.
How do I change my location when requesting a U.CASH converter?
If you need to change the location, just drag the marker to your preferred meeting location, and then press ‘Set preferred location’. (However, you and your converter can change the meeting location at a later point in the transaction process, if needed.) Once you’ve entered all the information, press ‘Continue’, and a confirmation screen will appear.
How do I become a U.CASH converter?
We are global and we are excited to partner with individual converters in select countries. To become an individual U.CASH converter, please do the following:
  • Open your U.CASH app, to the main screen
  • Click/tap: 'Become a Converter' in the main menu
  • Click/tap: 'Allow' for the app to access your location while you use the app
  • Click/tap: 'Select Location' if map pin shows desired location, otherwise type the address you will use
  • Click/tap: 'Save' after verifying your meeting point
  • Click/tap: 'OK' after providing requested information on previous screens
  • Wait: 'Converter Application Under Review' option will remain greyed out until you application gets approved.
  • Once approved, a new section called “Converter Options” will be added to the top of the main menu
How do I sign up to become a U.CASH converter?
To sign up to become a converter, please follow these steps:
  • Open your U.CASH app, to the main screen
  • Click/tap: the icon on the upper right corner to go to the menu screen
  • Click/tap: 'Become a Converter' and enter in the subsequent information
  • Click/tap: Done
Your U.CASH app will show the 'Converter Application Under Review' message option greyed out under the Main menu. That will indicate that your information has been received on our end and we will contact you at a later time to proceed with signup.
I signed up to become a U.CASH converter. When will I hear back from you?
After you sign up to become a converter, your U.CASH app will show the 'Converter Application Under Review' message option greyed out under the Main menu. That will indicate that your information has been received on our end.
We will be reviewing and approving applications selectively, depending on a number of factors. Once approved, a new section called “Converter Options” will be added to the top of the main menu
How do I submit feedback about my experience with a U.CASH converter?
Users and converters rate each other after every transaction.
What is the U.CASH converter transaction currency?
Converter transaction currency is the default currency you will use for your customer transactions as an U.CASH converter. You can view and update your default converter transaction currency at any time.
How do I change or view my U.CASH converter transaction currency?
The converter Transaction Currency can be changed and viewed from the main screen menu as follows:
Wallet Currency:
  • Open your U.CASH app, to the main screen
  • Click/tap: “Account Options” and go to 'Wallet Currency'
  • You can view your current converter Transaction Currency
  • Click/tap: 'Change default currency' and follow below steps to update it
Do I need to be registered to become a converter?
To be an U.CASH converter, we suggest you to comply with your country regulations. In the US, there are Federal and State regulations, which may include the need for an MSB registration. However, please note that U.CASH does not provide legal advice, and you should seek individual legal advice for your specific situation.
How do I remove myself from the converter list?
Only your approved service ads will appear to users and other tellers. If you want to remove yourself as a converter, it’s as simple as change your ad status from “Active” to “Inactive”

MERCHANT (2)

What is a U.CASH merchant?
U.CASH merchants are e-commerce merchants and sellers that accept U.CASH as a payment method from their customers. The benefits of the platform are significant:
  • Lower fees and no chargebacks
  • Reduced returns, increased checkout retention and faster settlement
  • Better access to unbanked and cross-border customer segments
To find out more about becoming an U.CASH merchant, please contact your U.CASH business development representative or reach out to us at info@u.cash .
How do I become a U.CASH merchant?
To become an U.CASH merchant, simply create an account and begin taking payments.

CRYPTOCURRENCIES (8)

Changes in network fees?
U.CASH will implement a network fee for fiat or bitcoin transfers into external wallets. This fee is required to ensure your transaction is confirmed by the Bitcoin and/or Ethereum network. You will always be able to check the rate on the app before completing your transaction. The network fee you will pay on transactions to outside wallets is calculated dynamically at the time the transaction is created. This means the fee could be higher during peak volumes.
What is Bitcoin and cryptocurrency?
The same way that email is a protocol for sending messages to any computer using the internet, Bitcoin and cryptocurrencies are protocols for sending money to any computer or mobile device using the Internet. The Bitcoin protocol has a built-in currency, also called Bitcoin, that is used to pay volunteers who use their computing power to help secure Bitcoin transactions. Bitcoin and cryptocurrencies is an important innovation in the history of money that enables U.CASH customers to send money anywhere in the world where there’s access to the Internet.
Are U.CASH transactions cryptocurrency transactions?
All U.CASH transactions made to and from the Portal and between wallets are cryptocurrency transactions that are confirmed on the their respective blockchains. Transactions made on the U.CASH Portal are not currently reflected on the blockchain.
Where can I use digital currencies?
In addition to using digital currencies to pay other U.CASH customers, you can send digital currency to anyone else who has a digital currency wallet, or shop in person or online with any of the over 100,000 merchants that already accept digital currencies. If you’re unsure, ask your favorite merchant if they accept digital currencies, and if they don’t, let them know that U.CASH can help get them started.
Who has control of my private keys?
The U.CASH wallet is designed to give you full, exclusive control of your private key. When you first download the wallet, you are prompted to write down a “recovery phrase”: that is your private key. So long as you keep your recovery phrase safe and do not install any malware on your phone, your private key will remain in your exclusive control.
How does U.CASH handle unconfirmed transactions?
Digital currency deposits from external digital currency wallets will not show up in the U.CASH wallet until the transaction has at least one confirmation on the digital currency’s respective blockchain. Transactions between U.CASH wallets will show up instantly. All transactions must be confirmed on the blockchain before they can be withdrawn to an external account.
How long does it take for a cryptocurrency transaction to be confirmed?
All U.CASH transactions are verified by the blockchain -- that's how we ensure that the digital currency you're sending is yours to send. It's one of the ways we prevent fraud in the system. It can take up to 20 minutes (usually less) from the time digital currency gets transferred to the time this transaction is verified. Exceptionally, it may take up to an hour for your transaction to be confirmed, depending on amount and network conditions. Until U.CASH gets verification that the transaction is a valid and unique one, you won't be able to send or withdraw the funds in your U.CASH account. If you experience difficulties, please let us know by clicking the three dots at the bottom left of the portal to access Support.
Why does my cryptocurrency address keep changing?
Your digital currency address will change every time you do a digital currency deposit because U.CASH uses hierarchical deterministic (HD) wallets. HD wallets are beneficial for privacy and security, but don't worry - all old deposit addresses will continue to work, and your backup phrase secures ALL your funds no matter which address they have been sent to.

FEES (6)

What converter fees should I expect?
Users can find and compare any U.CASH converter's fees using the U.CASH app. To find the fee amount at convenient converter locations, proceed with the following steps:
  • Click/tap: the icon in the upper left to go to the menu screen
  • Click/tap: the “Withdraw Funds” button.
  • Click/tap: the “Deposit Funds Offline” button
  • Find and select a nearby U.CASH converter to view their profile
  • For any U.CASH converter, the fee charged will be the larger of (1) the minimum fee, and (2) the listed percentage of the total transaction amount.
What fees does U.CASH charge?
Fees are set by U.CASH converters. Below are example fees charged by converters and earned by U.CASH .

FUNDS LOAD/UNLOAD (3% additional charged to customer):
Tellers (Globally) - The higher of 21% of the fees charged by the teller or 0.3% of total transaction, paid to U.CASH

RETAIL BITCOIN BUY/SELL (4% additional charged to customer):
Tellers (Globally) - The higher of 21% of the fees charged by the teller or 0.3% of total transaction, paid to U.CASH

ONLINE DIGITAL CURRENCY CONVERSION
Users (Globally) - 0.8% fee for the value of the conversion between a U.CASH balance and digital currency.

U.CASH USER LOAN ORIGINATED (from 10% to maximum regulated interest for customer):
Tellers (Canada) - 3.0% of the total amount loaned is payable to U.CASH at loan issuance.

TELLER CUSTOMER LOAN ORIGINATED:
Tellers (Canada) - 0.3% of the total amount loaned is payable to U.CASH at loan issuance.

IN-PERSON BILL PAYMENTS ($3.00 additional charge for customer):
Tellers (Canada) - 21% of the fee charged by the teller is paid automatically to U.CASH at transaction time

ONLINE BILL PAYMENTS:
Users (Canada) - $2.00 CAD fee charged to the U.CASH user. 21% of fee goes to registering teller.

*U.CASH never charges a fee for bank withdrawals. Some banks may charge a small fee for incoming transfers.
**Digital currency fees are required to ensure your transaction is confirmed by the cryptocurrency mining network, and fluctuates based on volume on the network. U.CASH does not profit from it.

Note that the above are example fees and that converter fees vary from geographical area to area.
What are U.CASH’s exchange rates?
Instructions for checking the foreign exchange conversion rate:
  • Open your U.CASH app, to the main screen
  • Click/tap: the icon in the upper left to go to the menu screen
  • Click/tap: Change Currency
  • Select the country of your preferred currency conversion
  • Click/tap: Next
  • The next screen, "Convert Balance," will show a conversion rate at bottom (your wallet must have a balance to see an exchange rate).
  • Tap: Back unless you would like U.CASH to actually convert your entire wallet balance into the new currency.
What are network fees?
For digital currency withdrawals from your U.CASH wallet to an external digital currency wallet, we charge a network fee. This fee is required to ensure your transaction is confirmed by the digital currency mining network, and fluctuates based on volume on the network. U.CASH does not profit from it. We currently select a high-priority fee, to ensure fast confirmation on the blockchain. To perform a digital currency withdrawal, you need to have enough funds to cover the network fee.
What are the fees for cryptocurrency?
There are no fees for depositing cryptocurrency from a third-party wallet onto your U.CASH wallet. Withdrawing cryptocurrency from your U.CASH wallet onto a third-party wallet will incur a network fee (This fee is required to ensure your transaction is confirmed by the bitcoin mining network and fluctuates based off of volume on the network. U.CASH does not profit from it).
What are the fees to add/withdraw funds using a U.CASH converter?
When you add funds using cash at an U.CASH converter, the converter charges a small service fee. Converters set their own fees, which are visible within the U.CASH app, so you always know how much you are going to pay. When you withdraw funds in cash at an U.CASH converter, the converter charges a small service fee.

IBO (INITIAL BOUNTY OFFERING) (7)

What is an IBO?
Initial Bounty Offerings are a way to crowdsource human resources, business development, marketing and user acquisition for blockchain technology ecosystems, by offering network tokens in exchange for contributions to the ecosystem. With the launch of the U.CASH platform, we introduce the world’s first IBO by offering the majority of network access tokens (UCASH) to users through a bounty program, so that people can acquire tokens by contributing their skills and time.
Why an IBO and not an ICO?
Unfair distribution of ICO tokens to "quick on the trigger" buyers and "whales" with large holdings of digital currencies has lead to markets being manipulated and unfair benefits being given to these early individuals. Regular users are left out as these ICOs raise millions of dollars in digital currencies within minutes and the future health of the network is adversely affected.
How long is the IBO period?
The distribution of the UCASH tokens will be done over a 30 day Pre-IBO period for early contributors, followed by a 120 day IBO period for the general public. Some bounties will expire within this time frame, but some will be open indefinitely.
How Do I participate in the IBO?
There are 3 ways to participate:
  1. As a contributor you can complete bounty task or projects and receive UCASH in return for your effort and completed work.
  2. As a benefactor you can benefact bounties to be completed on your behalf by contributing funds (in the form of cash or cryptocurrency) to a selected bounty and receive UCASH in return.
  3. As a user you can complete certain inputs and actions (like verifying your phone number) and receive UCASH.
What type of bounties exist?
Three types of bounties exist:
  1. Limited Time: Bounties which will only be available during the IBO period to be claimed. They will include time-sensitive or temporary assignments which will benefit the IBO as well as after.
  2. Unlimited Wait: Bounties which will stay available until such a time they are claimed. As the value of the network increases, these bounties will likely be claimed if not done so already.
  3. Infinite Claim: Bounties which will reward successful bounty hunters forever. A small percentage of the remaining reward in the bounty will be distributed to each claimant.
What if I can't find suitable bounties for myself

If you don’t see any bounties you like, and you can think of new ways to help the Ucash network you can propose new bounties. A small bounty is awarded if your proposal is adopted into the UCASH IBO.
Can I post my own bounties?
This will be possible once we construct our IBO platform, which anyone can use to create their own IBO’s! At the moment there is a very large bounty available for developing the IBO platform. If you can’t wait to start your own bounties, and think you have the development chops to create an IBO platform, this bounty may be for you.
Who can participate in the IBO?
Anyone can contribute to the growth of the U.CASH network, including:
  1. Bounty Hunters: Individuals who actively complete bounties and claim token rewards during the Initial Bounty Offering period.
  2. Benefactors: Individuals who choose to support the U.CASH mission by benefacting certain bounties and receiving the token reward in return.
  3. Builders: People who participate in the bounty offering by building products and services the U.CASH platform requires to live long and prosper.
  4. Users: Users of the network who sign up during the IBO period and receive a nominal amount of tokens as reward to use towards payment for services.
  5. Promoters: Partners, organizations and individuals who claim promotion based bounties that advertise and market the U.CASH platform.
  6. Partners: External networks and platforms, are rewarded tokens for integrating into the network. Services such as exchanges, wallet providers, are incentivized to provide services on the platform.
  7. Administrators: Team members and external users create ideas for bounties and make them available to participants, as well as approve bounty claim submissions where required in the IBO period and beyond.
  8. Community: The community can participate in the IBO by providing ideas for potential bounties as well as promoting and claiming bounties themselves.
  9. Creators: Team members and external users who create ideas for bounties and make them available to participants in the IBO period and beyond.
is there anything that me or other interested americans need to know or do differently?
How is U.CASH structured?
The first business to utilize the UCASH technology and creator of the UCASH token is the corporate entity U.CASH Inc., headquartered in Toronto, Canada. The founding team behind U.CASH has researched, developed, deployed, tested and brought to life proof-of-concepts, and onboarded early converters, financial service partners and users. We UCASH Inc. went ahead and structured our organization with a view to the future when virtual currency business regulations come into effect in jurisdictions worldwide, and we plan on complying with all applicable rules and regulations.
What are U.CASH ambassadors?
U.CASH Ambassadors are our supporters and believers all over the world who help bring alive the U.CASH mission to their geographical area or industry. Ambassadors’ (individuals, groups, organizations, government, and more) level of involvement is up to them, but must be responsible for certain duties as outlined by the U.CASH charter (to be released in the future). High-performing, impactful or growing ambassadors can get grant funding administered by the U.CASH foundation through its endowment fund towards projects, events, marketing. Ambassador responsibilities includes converter marketing, partner sourcing, user marketing and many other roles.

TROUBLESHOOTING (4)

I didn’t receive an SMS verification code during sign-up. What should I do?
Usually, the confirmation code arrives within 30 seconds. However in some cases, your local telco may "throttle" the rate of messages they allow through their systems. When this happens, it may take up to several hours for the code to arrive.

Unfortunately, when this happens, all we can advise you to do is wait for the code to arrive. Please enter the code as soon as you receive it, because for reasons of security, codes do expire.

If you'd like to help us report these issues to our SMS provider, please send an email to support@u.cash with the phone number you used to register for U.CASH, and the time you initiated the SMS verification request.
My U.CASH balance does not reflect a transaction?
We recommend waiting ~ 10 minutes and checking again. All transactions have to be verified by the U.CASH system. If you continue to experience problems, please reach out to support@u.cash .
I lost my phone. How do I recover my wallet?
If you ever lose your phone, you can download the U.CASH app on your new phone and use your recovery phrase to restore the funds of your lost phone into your new phone's U.CASH app.
Why is the QR code reader not working?
If you denied access to your phone's camera upon first use, you will need to manually grant access to it.
  • Go to your general mobile device configuration settings
  • Locate the U.CASH app
  • Allow U.CASH to get access to the camera.